Pre-Construction real estate

Click on the links below to view South Florida Preconstruction

Aventura	Bal Harbor	Brickell	Coconut Grove	Downtown Miami	Fort Lauderdale	Hallendale
Hollywood	Miami Beach	North Bay Village	Sunny Isles	South Beach	South of 5th St.	Uptown- Design District

Most Pre construction Scenarios

3 price levels of purchasing

LEVEL 1: (NOT ADVERTISED) only available through our Sales team.
LEVEL 2: (usually 5-10% higher) ADVERTISED.
LEVEL 3: Public Opening (usually another 5-10% higher) ADVERTISED

Deposits required:

a. $15,000 or $25,000 to be ready to buy on opening day.
b. Balance of first 10% deposit due 15-45 calendar days thereafter.
c. Additional 10% deposit due:
   a. 3-6 months thereafter or
   b. Upon groundbreaking.

Typical Timeline:

a. Opening Day:     Choose Unit and first deposit.
b. 15 days            Balance of 10% due.
c. 3-6 months       Additional 10% due.
d. 6 months          Ability to Resell.
e. 9 months          Resell unit and receive deposit back.
f. 24 months         Closing and receive profit.

To be ready to buy:

  1. Check
     a. Required 1 week before opening:
     b. $15,000 to $20,000 for 1 bedroom.
     c. $25,000 fto $30,000 for 2,3 bedrooms.
  2. Letter of intent and select:
     a. Price range.
     b. Style of unit desired.
     c. Approx floor height.

Opening Date:

  a. The pricing is released on opening day.
  b. We will call you with the units most closely matching your choice.
  c. If you accept, the check gets deposited
  d. If you do not like the unit:
      a. We hold on to the check and it does not get deposited.
      b. We wait for another unit to become available.
      c. We wait for cancellations.
  e. A fax signature will be required within 24 hours.
  f. Originals will be overnighted upon receipt of fax signature with condo \documents showing all the rules and regulations.
  g. You must overnight the contract back within 72 hours.

Procedures in the first 15 days:

1.You will have 15 calendar days from the date you sign the contract to review the condo documents.
   a. You may cancel the transaction at no cost or penalty within those 15 days by faxing directly to the developer.
   b. If you cancel, you must provide to the developer:
      a. Indication if you would like to consider another unit or get refund of check.
      b. If refund, provide mailing address where check should be sent.
      c. It may take 15-30 days for your refund to be processed.

Procedures for Re-selling your unit:

  a. The contracts will say that you are not allowed to sell or assign your unit in any way without the developer’s permission.
  b. Once you have given the full 20% and the project is sold out (some projects in less than 30 days, 6 weeks, or 6 months), you will typically get a letter that states the developer is now allowing you to resell your unit. The fee for reselling your unit is ¼ % of the price.
  c. You may resell your unit:
      a. On your own                    0% fee
      b. Through Claudio Rivero      4.5% fee
      c. Through the developer     6.0% fee
  d. Once you have agreed with the buyer on price and terms:
      a. the developer will release you from the contract.
      b. BUYER 2 will enter into a new contract with the developer.
      c. Once BUYER 2 gives 20% deposits, you will receive your 20% deposit back minus the ¼ % fee.
      d. You get your profit at closing minus any commissions paid above.